Crown Castle Inc. (CCI) Financial Ratios
29 years of historical data (1997–2025) · Real Estate · REIT - Specialty
EV/EBITDA
↓
24.63
+2% vs avg
5yr avg: 24.22
30Y Low13.3·High32.2
P/FCF
↓
13.52
↓-59% vs avg
5yr avg: 32.76
30Y Low13.5·High92.7
P/B Ratio
↓
N/A
—
5yr avg: 8.90
30Y Low0.3·High11.0
ROE
↓
N/A
—
5yr avg: -17.4%
30Y Low-125%·High22%
Debt/EBITDA
↑
10.68
↑+34% vs avg
5yr avg: 7.96
30Y Low5.5·High26.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CCI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Crown Castle Inc. trades at 87.4x earnings, 47% above its 5-year average of 59.5x, sitting at the 64th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 262%. On a free-cash-flow basis, the stock trades at 13.5x P/FCF, 59% below the 5-year average of 32.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $38.9B | $38.8B | $39.4B | $50.0B | $58.9B | $90.6B | $67.7B | $59.4B | $45.1B | $42.5B | $29.6B |
| Enterprise Value | $68.2B | $68.1B | $68.9B | $78.7B | $86.7B | $117.3B | $92.8B | $83.2B | $61.5B | $58.4B | $41.2B |
| P/E Ratio → | 87.35 | 87.13 | — | 33.29 | 35.14 | 82.51 | 67.74 | 79.41 | 88.32 | 138.76 | 91.34 |
| P/S Ratio | 9.12 | 9.11 | 6.00 | 7.16 | 8.43 | 14.29 | 11.58 | 10.31 | 8.40 | 10.00 | 7.54 |
| P/B Ratio | — | — | — | 7.83 | 7.90 | 10.97 | 7.15 | 5.66 | 3.90 | 3.45 | 3.91 |
| P/FCF | 13.52 | 13.51 | 22.89 | 29.37 | 37.54 | 60.48 | 47.28 | 92.70 | 59.24 | 52.13 | 32.56 |
| P/OCF | 12.72 | 12.70 | 13.38 | 15.99 | 20.45 | 33.22 | 22.15 | 22.02 | 18.02 | 20.81 | 16.60 |
P/E links to full P/E history page with 30-year chart
CCI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Crown Castle Inc.'s enterprise value stands at 24.6x EBITDA, roughly in line with its 5-year average of 24.2x. The Real Estate sector median is 16.7x, placing the stock at a 48% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 15.97 | 10.49 | 11.27 | 12.41 | 18.50 | 15.90 | 14.43 | 11.45 | 13.72 | 10.50 |
| EV / EBITDA | 24.63 | 24.61 | — | 19.09 | 20.98 | 32.18 | 26.75 | 26.56 | 21.13 | 26.44 | 20.01 |
| EV / EBIT | 32.79 | 32.79 | — | 33.50 | 36.66 | 64.78 | 53.30 | 53.89 | 48.76 | 60.69 | 47.44 |
| EV / FCF | — | 23.70 | 40.03 | 46.24 | 55.28 | 78.31 | 64.88 | 129.72 | 80.80 | 71.54 | 45.34 |
CCI Profitability
Margins and return-on-capital ratios measuring operating efficiency
Crown Castle Inc. earns an operating margin of 48.7%, significantly above the Real Estate sector average of 26.0%. Operating margins have expanded from 33.9% to 48.7% over the past 3 years, signaling improving operational efficiency. ROIC of 5.5% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 66.1% | 66.1% | 71.9% | 71.6% | 70.4% | 68.6% | 66.3% | 65.5% | 65.7% | 63.7% | 63.2% |
| Operating Margin | 48.7% | 48.7% | -44.7% | 33.9% | 34.7% | 31.6% | 31.9% | 27.1% | 25.8% | 22.7% | 24.2% |
| Net Profit Margin | 10.4% | 10.4% | -59.4% | 21.5% | 24.0% | 17.3% | 18.1% | 14.9% | 11.6% | 8.6% | 9.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -124.9% | 21.7% | 21.3% | 12.4% | 10.6% | 7.8% | 5.2% | 3.7% | 4.9% |
| ROA | 1.4% | 1.4% | -11.0% | 3.9% | 4.3% | 2.8% | 2.7% | 2.4% | 1.9% | 1.3% | 1.6% |
| ROIC | 5.5% | 5.5% | -6.8% | 5.1% | 5.2% | 4.3% | 4.1% | 3.8% | 3.7% | 3.1% | 3.7% |
| ROCE | 7.2% | 7.2% | -8.8% | 6.6% | 6.6% | 5.4% | 5.1% | 4.6% | 4.4% | 3.7% | 4.4% |
CCI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Crown Castle Inc. carries a Debt/EBITDA ratio of 10.7x, which is highly leveraged (36% above the sector average of 7.9x). Net debt stands at $29.3B ($29.6B total debt minus $269M cash). Interest coverage of just 2.2x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 4.52 | 3.75 | 3.27 | 2.69 | 2.28 | 1.44 | 1.31 | 1.61 |
| Debt / EBITDA | 10.68 | 10.68 | — | 6.99 | 6.77 | 7.41 | 7.32 | 7.64 | 5.73 | 7.32 | 5.91 |
| Net Debt / Equity | — | — | — | 4.50 | 3.73 | 3.24 | 2.66 | 2.26 | 1.42 | 1.28 | 1.54 |
| Net Debt / EBITDA | 10.58 | 10.58 | — | 6.96 | 6.73 | 7.33 | 7.26 | 7.58 | 5.64 | 7.18 | 5.64 |
| Debt / FCF | — | 10.19 | 17.14 | 16.87 | 17.73 | 17.84 | 17.60 | 37.03 | 21.56 | 19.42 | 12.77 |
| Interest Coverage | 2.17 | 2.17 | -3.31 | 2.86 | 3.51 | 2.87 | — | 2.26 | 1.96 | 1.63 | 1.69 |
CCI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.26x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.40x to 0.26x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.26 | 0.26 | 0.50 | 0.40 | 0.45 | 0.62 | 0.56 | 0.63 | 0.82 | 0.88 | 1.38 |
| Quick Ratio | 0.26 | 0.26 | 0.50 | 0.40 | 0.45 | 0.62 | 0.56 | 0.63 | 0.82 | 0.88 | 1.38 |
| Cash Ratio | 0.06 | 0.06 | 0.05 | 0.04 | 0.06 | 0.14 | 0.12 | 0.10 | 0.18 | 0.24 | 0.59 |
| Asset Turnover | — | 0.14 | 0.20 | 0.18 | 0.18 | 0.16 | 0.15 | 0.15 | 0.16 | 0.13 | 0.17 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CCI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Crown Castle Inc. returns 5.4% to shareholders annually — split between a 5.3% dividend yield and 0.1% buyback yield. The payout ratio exceeds 100% at 468.5%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 1.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.3% | 5.4% | 6.9% | 5.4% | 4.4% | 2.6% | 3.1% | 3.2% | 4.0% | 3.5% | 4.3% |
| Payout Ratio | 468.5% | 468.5% | — | 181.3% | 155.3% | 216.5% | 199.3% | 222.3% | 286.5% | 412.3% | 359.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 1.1% | — | 3.0% | 2.8% | 1.2% | 1.5% | 1.3% | 1.1% | 0.7% | 1.1% |
| FCF Yield | 7.4% | 7.4% | 4.4% | 3.4% | 2.7% | 1.7% | 2.1% | 1.1% | 1.7% | 1.9% | 3.1% |
| Buyback Yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 5.4% | 5.4% | 7.0% | 5.5% | 4.5% | 2.7% | 3.2% | 3.3% | 4.0% | 3.6% | 4.4% |
| Shares Outstanding | — | $437M | $434M | $434M | $434M | $434M | $425M | $418M | $415M | $383M | $341M |
Peer Comparison
Compare CCI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CCIYou | $39B | 87.4 | 24.6 | 13.5 | 66.1% | 48.7% | — | 5.5% | 10.7 |
 AMT | $83B | 33.0 | 18.2 | 21.9 | 73.7% | 45.8% | 25.3% | 6.9% | 6.5 |
 SBAC | $23B | 22.2 | 20.5 | 21.6 | 41.6% | 48.7% | — | 10.0% | 8.3 |
 UNIT | $3B | 2.4 | 11.1 | — | 36.9% | 21.2% | 343.0% | 5.2% | 8.8 |
 LUMN | $10B | -5.3 | 10.2 | 25.6 | 24.3% | -1.5% | — | -0.8% | 6.9 |
 CCOI | $905M | -4.8 | 21.8 | — | 17.5% | -10.6% | -229.1% | -3.1% | 17.6 |
 SHEN | $888M | -22.6 | 13.7 | — | 26.9% | -6.2% | -4.0% | -1.1% | 5.9 |
 T | $181B | 8.5 | 7.5 | 9.3 | 79.8% | 19.2% | 17.6% | 6.7% | 3.9 |
 VZ | $200B | 11.7 | 8.0 | 9.9 | 45.6% | 21.2% | 16.6% | 8.0% | 4.2 |
 TMUS | $210B | 20.0 | 10.1 | 20.3 | 47.6% | 21.2% | 18.2% | 8.1% | 3.8 |
 ERIC | $37B | 13.7 | 9.0 | 11.8 | 48.1% | 13.8% | 26.3% | 22.3% | 1.2 |
| Real Estate Median | — | 24.1 | 16.7 | 15.4 | 52.1% | 26.0% | 3.5% | 3.0% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonCCI — Frequently Asked Questions
Quick answers to the most common questions about buying CCI stock.
What is Crown Castle Inc.'s P/E ratio?
Crown Castle Inc.'s current P/E ratio is 87.4x. The historical average is 76.5x. This places it at the 64th percentile of its historical range.
What is Crown Castle Inc.'s EV/EBITDA?
Crown Castle Inc.'s current EV/EBITDA is 24.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.3x.
Is CCI stock overvalued?
Based on historical data, Crown Castle Inc. is trading at a P/E of 87.4x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Crown Castle Inc.'s dividend yield?
Crown Castle Inc.'s current dividend yield is 5.34% with a payout ratio of 468.5%.
What are Crown Castle Inc.'s profit margins?
Crown Castle Inc. has 66.1% gross margin and 48.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Crown Castle Inc. have?
Crown Castle Inc.'s Debt/EBITDA ratio is 10.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.